In yesterday’s post, we discussed the retail sales numbers and how we were beginning to see quite a bit of weakness entering the department stores and clothing brands. Our suspicions were proven founded as earnings from several retailers and more specifically, JC Penney (JCP) and Abercrombie and Fitch (ANF) would come in worse than expectations. We saw JCP finish on the lows of the day down almost 20% and we witnessed ANF slip to -13.5% to finish off the trading session.
TriggerPoint Research memberships have been growing steadily and we are very excited about producing quality and timely ALERTS!. Over the last two weeks we had fewer ALERTS! than the prior period. This was partly due to the fact that market dynamics have been slowly changing. Despite this however, there were 8 unique alerts with all but one of those being a Breaking Up ALERT!